What to Watch in the Day Ahead - Friday, Sept. 26

Reuters Staff

3 Min Read

(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) The U.S. Department of Commerce is expected to revise its reading on second-quarter economic growth to a 4.6 percent annual rate from the previously reported 4.2 percent pace. Investors will look for the composition of growth, and what it means to activity going forward (0830/1230). The Commerce Department also releases revised corporate profits for the second quarter (0830/1230). The University of Michigan releases its United States Michigan sub-indexes for September (0955/1355). BlackBerry is set to report second-quarter results, just two days after the smartphone maker's launch of a completely revamped device dubbed the BlackBerry Passport. Although BlackBerry is not yet expected to be posting a profit, investors and analysts will be looking for signs that the company has been able to stop the bleed and that its new low-end Z3 handset is gaining some traction in the emerging markets where it has been launched. Citigroup is set to return to court as it seeks to have a U.S. judge reconsider an order barring it from processing payments on $8.4 billion in bonds issued under Argentina's local laws following its 2002 default. U.S. District Judge Thomas Gries in New York on Monday scheduled the hearing for 1500 ET, a court official said. The hearing will come just days ahead of a Sept. 30 deadline for Citigroup to process a $5 million interest payment due to bondholders. Canada and the European Union will hold an Ottawa summit where they are set to sign a document hailing the completion of talks on a long-delayed bilateral free trade deal. The ceremony could though be overshadowed by Germany's vow to reject part of the accord between the European Union and Canada, in a potentially embarrassing re-run of a ceremony a year ago. Canadian Prime Minister Stephen Harper and EU Commission head Jose Manuel Barroso signed a deal in principle in October 2013 but a final agreement proved impossible as both sides then argued for months over technical details. Mexican trade balance data will shed light on whether exports continued to rebound in August, after expanding at their fastest pace in July in five months (0900/1300). Separately, Brazil's bank lending and credit delinquency data for August is due (0930/1330). The Argentine government is due to release July economic activity data and current account figures for the second quarter (1500/1900). (Compiled By Nandi Kaul in Bangalore; Editing by Maju Samuel)